[BreachExchange] Can Your Poor Internet Security Hurt Your Marketing Efforts?

[Audrey McNeil]

https://www.advancedwebranking.com/blog/can-poor-internet-security-
hurt-marketing/


No matter how successful your brand’s marketing is, poor cybersecurity can
result in data breaches that have the potential to cause irreversible
damage to your reputation. Customers are more likely to stay loyal to
brands with which they feel safe doing business, and any data breach can
break that trust.

About 64% of marketers believe that word-of-mouth is the most effective
form of advertising, and word will most certainly get around if your
brand’s poor internet security systems have put customers’ personal
information at risk.

So, it is as important to protect your company from cyberattacks as it is
to have a marketing plan in place in the unfortunate event that a data
breach occurs.

Data Breaches Harm Brand Reputation

If your company and its customers become victims of a cyberattack or a data
breach, there is the likelihood that the cybercriminals will milk their
gains for all they are worth, and your attackers are usually smart enough
to know exactly when to exploit that information.

The damages can continue to accumulate for years after the fact, costing
your company significantly.

Five years after Sony’s data breach, people are still talking about the
unfortunate event. The data stolen from Sony’s servers included login
details and banking information from both customers and employees.

The breach initially cost Sony $15 million to clean up the mess but, by the
end of the year, the company’s executives estimated that figure would be
closer to $35 million. On top of this, Sony may have had to rebuild its IT
systems – a process that could cost over $83 million.

These are just the tangible financial figures, and the company is likely to
have lost much more money as skeptical customers decided to take their
business elsewhere or hold back on their use of services.

Reputation is a difficult metric to measure, but brands cannot ignore the
many ways in which a tarnished name can result in lost business. Not only
do brands lose existing customers, but they also face difficulties
acquiring new ones.

A study shows the majority of consumers are unlikely to do business with a
company that had faced a data breach, so your brand can face significant
financial turmoil due to lost customers.

Furthermore, investors and other companies may back out of doing business
with a brand that has been the victim of a cyberattack. Earlier this year,
Verizon agreed to acquire Yahoo for $4.8 billion in cash. After Yahoo’s
email servers were attacked in September (during which 500 million user
details were stolen), Verizon put the deal on hold and is currently
reassessing the situation.

Good Cybersecurity Is Good For Sales

In addition to preventing financial losses and harm to your brand’s
reputation, employing good cybersecurity practices can help to increase
your sales in the long term.

Because of data breaches, 34 percent of consumers are hesitant about buying
products online. By demonstrating that your site is safe and secure, you
can look forward to better conversion rates among your target customers.

When you have an SSL (Secure Socket Layer) installed on your website,
customers can tell right away that all of the data they use to communicate
with your servers are encrypted.

They know because your URL says ‘https’ instead of ‘http’ and a small
padlock appears in the address bar. Almost a third of internet users look
for signs of an SSL on the websites they visit, and “https” is now a
ranking signal in Google’s search algorithm.

Customers also look for trust seals that show customers your brand
prioritizes online security. Brands have found that the inclusion of a
trust seal can improve conversions up to 42 percent.

Using social media and email marketing, you can let potential and existing
customers know about your improved security measures and the steps that
your brand is taking to optimize your online security.

Consumers respond positively to brands that practice good cybersecurity,
and it is important to let them know how your company is working hard to
protect them.

How Cybercrimes Can Occur

Cybercriminals can obtain unauthorized access to your servers in a wide
variety of ways. It is important to know all about the different security
issues that can put your company at risk of a cyberattack so you can
protect your brand against them.

DDoS Attacks

A Distributed Denial of Service (DDoS) attack occurs when hackers attempt
to make an online service unavailable by overwhelming it with traffic from
thousands of different sources. While this does not offer hackers access to
your servers, it impacts your accessibility and visibility.

Negligent Employees

Employee errors are the main cause of data breaches in the United States.
If an employee leaves their computer unlocked or does not use secure enough
passwords (among other things), hackers can find a relatively easy way to
gain access to your servers.

Business owners should prioritize online safety training for their staff
and ensure that it is part of the orientation process. The training should
aim to encourage employees to use systems that will prevent your company
from becoming vulnerable to cyberattacks.

Malware

If your site becomes infected by Malware, hackers can gain access to your
customers’ personal information. Eddie Bauer is one of the latest brands
involved in a malware attack, during which customers’ credit card details
were hacked.

Phishing

Many cybercriminals rely on phishing to obtain sensitive data from a
brand’s customers. They may hack your site or send out emails to your
customers to gain access to their logins, personal information and banking
details.

Poor Website Security

If your website employs weak security measures, it becomes a prime target
for hackers who can easily phish for data and infect your site with malware.

How Your Brand Can Combat Data Breaches

There is a wide variety of ways in which companies can prevent data
breaches from occurring. These measures are crucial in helping protect your
brand from cyberattacks:

Antivirus and Antimalware software

Keep all of the computers in your company’s network protected at all times
using antivirus and antimalware software. There is a wide range of
antivirus and antimalware programs, and it is important to do your research
to determine which software best suits the needs of your team.

Password Security

It is important to ensure that people who access your site and servers
utilize strict password security measures. Passwords should include a mix
of capital letters, lowercase letters, symbols and numbers.

Virtual Private Networks

When uploading any content to your website, ensure that all your employees
use a Virtual Private Network (VPN). This tool, once you select the best
one out of your options, connects them to the internet remotely, encrypts
all information that they send and protects their details from being
accessed by unauthorized third parties.

Risk Assessments

To identify any weaknesses that could give cybercriminals access to
sensitive information, perform a risk assessment on all the computers in
your office and the networks that connect them.

You can also enlist an IT security firm to conduct a risk assessment on
your behalf. Working with professionals can help you ensure that you don’t
miss any potential weaknesses.

Encrypted Messaging

Many big brands use online messengers to communicate among their various
staff, and it is important to choose one that is encrypted. There are
several great secure messaging apps like WhatsApp and Telegram.

Get Rid of Unnecessary Information

Dispose of any customer information that isn’t crucial to your current
business. If you think you might need it in the future, use an offline
method of storage. In the event of a cyberattack, fewer customers will be
at risk.

Employee Training

It is important for companies to ensure that all members of staff have been
trained on proper security practices, and to provide yearly refresher
courses.

Damage Control if Your Brand Has Been the Victim of a Cyberattack

Should your company ever fall victim to a cyberattack, it is important to
have a plan already in place. This will act as damage control to help your
brand recover from the financial and reputation fallout.

Your marketing department should have an action plan in place. Your press
officer should draft content for press releases, social media posts and
email newsletters so that you can act quickly in the event of a data breach.

This lets consumers know that you’re on top of the situation and your team
is working hard to keep customer data safe. These communications should
also include information on how your company plans to rectify the problem,
security measures you will enact in the future and compensation for
customers who have been affected.

Home Depot offers a great example of how a company should communicate with
customers in the event of a cyberattack. After hackers had stolen credit
card information from the company, the communications team notified
customers right away and offered free identity protection services to
affected parties.

With proactive communication via Twitter, Facebook and email, Home Depot
took the correct measures which were an important step in helping to
protect the brand’s reputation.

While it is inevitable that you will lose some customers, clients and leads
because of a data breach, your marketing department can help to mitigate
the damage to your finances and your brand’s reputation.

When your marketing team successfully executes a thorough action plan, you
have the chance to retain some of the customers who would otherwise abandon
your brand.

If your online security measures are not up to scratch, your brand’s
reputation could suffer and render your existing marketing campaigns
useless.

Since trust is one of the most important factors informing consumers
purchasing habits, it is crucial to employ strict cyber security measures
to not only protect your profits but also the way in which your consumers
view your brand.
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